{"id":1004097536,"date":"2014-05-30T17:02:18","date_gmt":"2014-05-31T01:02:18","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=265636"},"modified":"2020-04-14T22:57:15","modified_gmt":"2020-04-15T06:57:15","slug":"northland-closes-on-98-million-financing-for-transit-oriented-complex-in-waltham","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northland-closes-on-98-million-financing-for-transit-oriented-complex-in-waltham\/","title":{"rendered":"Northland Closes on $98 Million Financing for Transit-Oriented Complex in Waltham"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">A new transit-oriented complex is underway at the intersection of Main and Moody Streets in Waltham, a thriving suburb located only 14 miles west of Boston.<\/p>\n<div id=\"attachment_265638\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/05\/Moody-and-Main-project-rendering-Waltham-MA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-265638\" title=\"Moody and Main project rendering - Waltham MA\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/05\/Moody-and-Main-project-rendering-Waltham-MA.jpg\" alt=\"Moody and Main project rendering - Waltham MA\" width=\"300\" height=\"111\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Moody and Main project rendering &#8211; Waltham MA<\/p>\n<\/div>\n<p style=\"text-align: justify;\">Northland Investment Corp., a real estate investment company based in Newton, has closed on a $98 million construction financing package from PCCP, LLC and is now ready to kick-start a massive redevelopment project in the heart of the city, one block from the Waltham MBTA commuter rail station.<\/p>\n<p style=\"text-align: justify;\">Moody and Main On The Common will be constructed in phases on a 4.5-acre site encompassing four buildings\u2014located at 702 and 716 on Main Street and 1 and 55 on Moody Street, respectively\u2014that the developer has owned since 2005. <em><a href=\"https:\/\/waltham.wickedlocal.com\/article\/20140528\/NEWS\/140526239\" target=\"_blank\" rel=\"nofollow\">Wicked Local Waltham<\/a><\/em> reported that 55 Moody Street and 702 Main Street have already been razed and the developer has filed for demolition permits for the remaining buildings as well. ADD Inc. of Boston is the project\u2019s architect of record, while Erland Construction serves as the general contractor.<\/p>\n<p style=\"text-align: justify;\">Spanning 340,000 square feet, Moody and Main On The Common is set for completion in the summer of 2016, with the first phase ready in mid-2015. According to the developer, the project calls for three new, five-story buildings totaling 269 luxury rental apartments\u201416 studios, 142 one-bedrooms, 102 two-bedrooms and 9 three-bedrooms\u2014with 27 affordable housing units. The residences will boast sustainable, high-end amenities such as walk-in closets, Energy Star appliances, low-flow fixtures, white roofs, European-style cabinetry and solid stone countertops.<\/p>\n<p style=\"text-align: justify;\">The commercial component at Moody and Main includes 27,975 square feet of ground floor retail space, a below-grade parking garage for 300 cars and 92 surface parking spaces.<\/p>\n<p style=\"text-align: justify;\">John Randall, senior vice president with PCCP, told <em><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/pccp-provides-98-m-loan-for-construction-of-269-unit-m-f-retail-property-in-suburban-boston\/1004097276.html\">Commercial Property Executive<\/a><\/em> \u00a0in a recent interview that Northland\u2019s transit-oriented complex in Waltham will target renters by choice who are on the lookout for brand-new, high-quality rentals with access to regional access but who also enjoy the walkability of the location.<\/p>\n<p style=\"text-align: justify;\"><em>Rendering courtesy of Northland Investment Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new transit-oriented complex is underway at the intersection of Main and Moody Streets in Waltham, a thriving suburb located only 14 miles west from Boston.<\/p>\n","protected":false},"author":258,"featured_media":1004507067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21742],"tags":[],"class_list":["post-1004097536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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